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Hungary Trade Balance Swings To Deficit

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Hungary’s trade balance swung to a deficit in February from a surplus a year ago, as imports increased more than exports, data from the Hungarian Central Statistical Office showed on Thursday.

The trade balance registered a deficit of EUR 91 million in February versus a surplus of EUR 785 million in the same month last year. Economists had forecast a deficit of EUR 300 million.

In January, the trade deficit was EUR 244 million.

On a yearly basis, exports increased 17.7 percent in February, following a 16.5 percent rise in January.

Imports grew 29.2 percent annually in February, after a 33.4 percent rise in the preceding month.

On a month-on-month basis, exports and imports rose 9.5 percent and 7.9 percent, respectively.

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